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First Bank, Upper Michigan

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Description

Offering comprehensive SBA lending services, this commercial bank specializes in providing financial solutions tailored to small businesses across various industries. With a focus on supporting local entrepreneurs, it offers a range of loan programs including the SBA 7(a) loan, which is ideal for business expansion, working capital, and equipment purchases. The bank’s experienced lending team works closely with clients to understand their unique needs and craft financing options that align with their growth strategies. Its commitment to community development and small business success makes it a trusted partner for entrepreneurs seeking reliable funding sources. Located in Gladstone, Michigan, the bank leverages its regional expertise to serve the Upper Michigan area, ensuring personalized service and local market knowledge. Whether you’re starting a new venture or expanding an existing business, this bank provides accessible and flexible SBA loan options to help you achieve your goals.

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Q&A

Lender Type
Commercial Bank
Google Rating
4.3
Google Review Count
8
Question 1
What is this place and what can I find here?
Answer 1
This is a regional commercial bank offering SBA loan programs and small business financing solutions tailored to entrepreneurs in the Upper Michigan area.
Question 2
Do I need an appointment or can I walk in?
Answer 2
It"s recommended to schedule an appointment for personalized service, but walk-ins are also welcome during business hours.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 9:00 AM to 5:00 PM, with extended hours by appointment.
Question 4
Is there a fee to use this?
Answer 4
There are fees associated with SBA loans, including guaranty and servicing fees, which vary depending on the loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small businesses and entrepreneurs within the Upper Michigan region, but eligibility depends on meeting loan criteria.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is generally preferred, though other factors are also considered.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process typically takes between 30 to 60 days, depending on the complexity of the loan and completeness of application materials.
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